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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: James Strauss who wrote (26241)	5/14/1999 3:25:00 PM
From: Judy	Read Replies (1) \| Respond to of 50167

Actually I think the market is digesting the CPI and bond yield rather well.

To: James Strauss who wrote (26241)	5/17/1999 1:30:00 AM
From: IQBAL LATIF	Respond to of 50167

I think that would be a good thing to do, taking money off the table this market is now poised to resume a medium term consolidation pattern at these highs, this makret would certainly like to see that CPI spike up is one time steep rise and it will fall in line with other indicators, we have seen in Oct 97 and unexpected rise in CPI which was negated next month, however present market dazling heights call for caution, the journey to 1430 may now look little distant as far as I can see, for me the real money if 888 out on BKX is on the short side. I think that 1364 can be a stop loss and one can easily trade on the other side, they would like to take the bonfs now to 6 plus yield and I would like to wait for opportune time to buy the 122 long.. at hte moment I am short the 1380's and long the 1320's with 700 naked short calls on DOT.. I hope it works, planning to cover at 1328 and re-establish at 1338 if I see a rebound in Comp anbove 2520 and BKX 887.. this last two levels only if we sell and come back up, if two of these levels confirm strength I wil wait and establish short positions at 1355-60 area in any case...